Filing Flows › NetApp (NTAP) › Q1 FY27 › vs Q4 FY26
NetApp (NTAP) Q1 FY27 vs Q4 FY26 (quarter over quarter)
NetApp's revenue fell $129M (-7%) from $1.9B in Q4 FY26 to $1.8B in Q1 FY27. Gross margin 78.0% against 70.1% (+7.9 pts).
NetApp, Q1 FY27: revenue $1.8B (+30% year over year), operating margin 26.6%, net earnings $375M, operating cash flow $503M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 78.0% | 70.1% | +7.9 pts |
| Operating margin | 26.6% | 27.3% | -0.7 pts |
| Net margin | 20.6% | 20.7% | -0.1 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | −$129M | -7% |
| Gross profit | $1.4B | $1.4B | $54.0M | +4% |
| Cost of revenue | $400M | $583M | −$183M | -31% |
| Operating profit | $484M | $532M | −$48.0M | -9% |
| Operating expenses | $935M | $833M | $102M | +12% |
| Pre-tax earnings | $484M | $518M | −$34.0M | -7% |
| Research & development | $274M | $261M | $13.0M | +5% |
| Sales & marketing | $507M | $488M | $19.0M | +4% |
| General & admin | $98.0M | $85.0M | $13.0M | +15% |
| Net earnings | $375M | $404M | −$29.0M | -7% |
| Income tax | $109M | $114M | −$5.0M | -4% |
| Depreciation & amortization | $33.0M | $49.0M | −$16.0M | -33% |
| Share-based compensation | $98.0M | $100M | −$2.0M | -2% |
| Working capital & other | $3.0M | −$397M | $400M | — |
| Operating cash flow | $503M | $950M | −$447M | -47% |
Questions
How much did NetApp's revenue grow quarter over quarter in Q1 FY27?
NetApp's revenue fell $129M (-7%) from $1.9B in Q4 FY26 to $1.8B in Q1 FY27. Gross margin 78.0% against 70.1% (+7.9 pts).